Montenegro’s High Court in Podgorica has reportedly handed over the decision on whether Terraform Labs co-founder Do Kwon should be extradited to the United States or South Korea to the country’s justice minister.
According to a report from Montenegrin news outlet Vijesti on April 10, Justice Minister Andrej Milović will have the final say on whether Kwon will be extradited and to which country. This decision comes after Montenegro’s Supreme Court granted a request to protect the legality against a lower court’s decision that would have allowed Kwon’s extradition to South Korea.
Kwon was arrested in Montenegro in March 2023 for using falsified travel documents while attempting to leave the country. While the courts in Montenegro determine whether to approve an extradition request from the US or South Korea, Kwon is reportedly free to travel within Montenegro. If extradited, he would face criminal charges in the respective countries.
Kwon and others at Terraform have been accused of fraud and deceiving investors during the platform’s collapse in May 2022. On April 5, a jury found the company and Kwon guilty of fraud in a civil case brought by the US Securities and Exchange Commission. Kwon could also face criminal charges in the US and South Korea.
Kwon’s case in Montenegro has been passed between different courts as his legal team continues to file motions and appeals regarding the legal procedures. It is unclear if they also plan to appeal the April 10 ruling.
Terraform Labs’ former chief financial officer, Han Chang-joon, who was arrested alongside Kwon in Montenegro, was extradited to South Korea in February. Authorities in South Korea have also indicted several individuals connected to Terraform, including co-founder Hyun-seong Shin.